US tech firm Corning to scout for Israeli 5G, auto and life sciences tech

US tech firm Corning to scout for Israeli 5G, auto and life sciences tech

Corning will look for investments, acquisitions and partnerships with startups and other companies, it says in statement

Illustrative image of scouting, searching for tech firms in Israel (SimCh; iStock by Getty Images)
Illustrative image of scouting, searching for tech firms in Israel (SimCh; iStock by Getty Images)

US tech firm Corning Inc, which focuses on technologies for glass, ceramics and other materials, has set up a tech scouting program in Israel aimed at locating investments, innovations and possible acquisitions and collaborations with local startups.

Nissim Atias, the general manager of Corning Israel, will lead the Corning Scouting Israel program along with Michel Prassas, director of new business opportunities at Corning, according to a statement released on Monday.

The focus of the program will be telecom, cellular, 5th generation connectivity, wireless, artificial intelligence, 3D technologies and forecasting, life sciences and auto-tech such as fast-charging batteries and autonomous vehicles, quantum computing, augmented reality (AR), optics and armored glass, the statement said.

Corning is looking to invest in interesting startups as well as adopt technologies for its own use. The firm will also be able to give Israeli startups access to its worldwide customers, including the world’s largest telecom and vehicle companies such as Daimler-Benz, Apple and AT&T, the statement said.

“The international corporation views Israel’s advanced technological ecosystem as an opportunity to develop and adopt innovation in the company,” said Atias in the statement. “In the coming years, Corning will invest in many areas that are expected to grow at a high pace in the coming decade, especially in the 5th generation, cellular, augmented reality and auto-tech fields.”

Corning is a global innovator in materials science. Formerly called Corning Glass Works, the firm sold off its consumer lines of CorningWare dishes and Pyrex glass bakeware and now focuses on technology.

The firm’s business activities include optical communications, mobile consumer electronics, display technology, automotive, and life sciences vessels. Corning’s products include damage-resistant cover glass for mobile devices; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for communications networks; products to accelerate drug discovery and delivery; and clean-air technologies for cars and trucks.

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